Cullen Frost Bankers Inc. bought a new position in SAGE Therapeutics Inc (NASDAQ:SAGE) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 600 shares of the biopharmaceutical company’s stock, valued at approximately $95,000.
Other institutional investors have also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in SAGE Therapeutics by 6.0% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,106 shares of the biopharmaceutical company’s stock valued at $494,000 after acquiring an additional 175 shares in the last quarter. Quadrant Capital Group LLC lifted its position in SAGE Therapeutics by 4,871.4% during the first quarter. Quadrant Capital Group LLC now owns 348 shares of the biopharmaceutical company’s stock valued at $53,000 after buying an additional 341 shares during the period. Daiwa Securities Group Inc. lifted its position in SAGE Therapeutics by 1,284.2% during the first quarter. Daiwa Securities Group Inc. now owns 4,291 shares of the biopharmaceutical company’s stock valued at $683,000 after buying an additional 3,981 shares during the period. World Asset Management Inc purchased a new position in SAGE Therapeutics during the first quarter valued at $258,000. Finally, Los Angeles Capital Management & Equity Research Inc. purchased a new position in SAGE Therapeutics during the first quarter valued at $1,323,000.
In other news, CEO Jeffrey M. Jonas sold 84,661 shares of SAGE Therapeutics stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $174.83, for a total value of $14,801,282.63. Following the completion of the transaction, the chief executive officer now owns 97,851 shares of the company’s stock, valued at approximately $17,107,290.33. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Anne Marie Cook sold 15,000 shares of SAGE Therapeutics stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $166.14, for a total value of $2,492,100.00. Following the completion of the transaction, the senior vice president now directly owns 15,000 shares of the company’s stock, valued at approximately $2,492,100. The disclosure for this sale can be found here. In the last ninety days, insiders sold 319,284 shares of company stock valued at $54,221,641. 4.60% of the stock is owned by insiders.
Shares of SAGE traded down $0.21 during trading hours on Wednesday, hitting $174.15. The company had a trading volume of 664,964 shares, compared to its average volume of 585,537. The company has a debt-to-equity ratio of 0.03, a current ratio of 20.06 and a quick ratio of 20.06. The firm has a market cap of $8.91 billion, a PE ratio of -21.55 and a beta of 2.87. SAGE Therapeutics Inc has a 52-week low of $79.88 and a 52-week high of $178.16.
SAGE Therapeutics (NASDAQ:SAGE) last posted its quarterly earnings results on Thursday, May 2nd. The biopharmaceutical company reported ($3.37) earnings per share (EPS) for the quarter, missing the consensus estimate of ($3.17) by ($0.20). The firm had revenue of $0.47 million during the quarter. During the same period last year, the firm posted ($1.68) earnings per share. As a group, sell-side analysts anticipate that SAGE Therapeutics Inc will post -13.19 EPS for the current year.
Several brokerages have commented on SAGE. BidaskClub raised SAGE Therapeutics from a “sell” rating to a “hold” rating in a research report on Tuesday, February 5th. LADENBURG THALM/SH SH set a $220.00 price objective on SAGE Therapeutics and gave the company a “buy” rating in a research report on Thursday, May 2nd. Wedbush began coverage on SAGE Therapeutics in a research report on Wednesday, May 22nd. They set an “outperform” rating and a $207.00 price objective for the company. Raymond James reissued a “market perform” rating on shares of SAGE Therapeutics in a research report on Friday, April 26th. Finally, Oppenheimer set a $170.00 price objective on SAGE Therapeutics and gave the company a “buy” rating in a research report on Sunday, May 5th. One research analyst has rated the stock with a sell rating, one has given a hold rating and fifteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $202.15.
About SAGE Therapeutics
Sage Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops and commercializes novel medicines to treat central nervous system (CNS) disorders. Its lead product candidate is ZULRESSO, a proprietary intravenous formulation of brexanolone that has completed Phase III clinical trials for the treatment of postpartum depression (PPD).
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